Eaton Corporation, PLC (ETN) Director Sells $327,765.33 in Stock

Eaton Corporation, PLC (NYSE:ETN) Director Charles E. Golden sold 4,311 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $76.03, for a total transaction of $327,765.33. Following the completion of the transaction, the director now directly owns 20,275 shares in the company, valued at approximately $1,541,508.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Eaton Corporation, PLC (NYSE:ETN) opened at $75.92 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.43 and a debt-to-equity ratio of 0.44. Eaton Corporation, PLC has a one year low of $65.35 and a one year high of $82.34. The firm has a market cap of $33,582.53, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 1.96 and a beta of 1.39.

Eaton Corporation, PLC (NYSE:ETN) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.25. Eaton Corporation, PLC had a net margin of 14.21% and a return on equity of 12.89%. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. equities research analysts expect that Eaton Corporation, PLC will post 4.6 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Friday, November 3rd were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.16%. Eaton Corporation, PLC’s dividend payout ratio (DPR) is presently 37.68%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cable Hill Partners LLC raised its holdings in shares of Eaton Corporation, PLC by 174.8% in the third quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 867 shares during the last quarter. Fieldpoint Private Securities LLC acquired a new stake in shares of Eaton Corporation, PLC in the third quarter valued at approximately $130,000. Captrust Financial Advisors acquired a new stake in shares of Eaton Corporation, PLC in the second quarter valued at approximately $133,000. Harfst & Associates Inc. raised its holdings in shares of Eaton Corporation, PLC by 21.8% in the second quarter. Harfst & Associates Inc. now owns 1,798 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 322 shares during the last quarter. Finally, Acrospire Investment Management LLC raised its holdings in shares of Eaton Corporation, PLC by 325.9% in the second quarter. Acrospire Investment Management LLC now owns 2,091 shares of the industrial products company’s stock valued at $163,000 after purchasing an additional 1,600 shares during the last quarter. Institutional investors own 76.76% of the company’s stock.

Several research analysts have recently issued reports on the stock. Credit Suisse Group reaffirmed an “outperform” rating and issued a $92.00 target price (up previously from $86.00) on shares of Eaton Corporation, PLC in a research note on Wednesday, November 1st. Jefferies Group LLC raised their target price on shares of Eaton Corporation, PLC from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Wednesday, November 1st. Citigroup Inc. raised their target price on shares of Eaton Corporation, PLC from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Eaton Corporation, PLC in a research note on Tuesday, October 31st. Finally, Buckingham Research initiated coverage on shares of Eaton Corporation, PLC in a research note on Tuesday, October 17th. They set a “neutral” rating and a $82.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. Eaton Corporation, PLC presently has an average rating of “Hold” and a consensus target price of $82.86.

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Eaton Corporation, PLC Company Profile

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.